Do I need to request depreciation report update?

For the property in Rutherford - already have existing report, but end of last year we did some cosmetic reno

  • Carpet - Fairly ok age, I think it still have some value left, discarded.
  • Kitchen Masonite discarded
  • Floorboard sanded and polished for the entire house
  • Bathroom - rid of wooded layer on top wall, paint
  • General internal painting
  • Old gutter discarded, place in new gutter
  • And the latest, Garden shed destroyed by the NSW storm


The company who made the depriciation report was BMT, done early 2013. Do I need them to update it for tax return this year? i.e. scraping? Or can my accountant apportion the discarded items from existing report?
:confused:
 
Talk to your accountant. Tell them what you have done and ask them if they need an updated Dep Schedule or whether they can take care of it. We don't charge to update Schedules, so I'm sure BMT don't.
 
I would have it updated and it will max deductions better than I can. They may not even charge for it and it WILL maximise value. BMT offer very good phone support and they can guide you.

One of the problems accountants have is the scrapping. Unless they have wasted your time and $ and re-entered the QS report into their software its hard to scrap and still use the QS report.
 
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Talk to your accountant. Tell them what you have done and ask them if they need an updated Dep Schedule or whether they can take care of it. We don't charge to update Schedules, so I'm sure BMT don't.

+1 for this

Depreciator have always looked after us for any updates
 
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